ChainCatcher message, Luxembourg has passed the 'Blockchain Law 4', aimed at making the adoption of DLT securities easier. This is the country's fourth blockchain law.

Under the current DLT securities law, Luxembourg adopts a two-tier concept, including a central account manager, similar to a Central Securities Depository (CSD), but less cumbersome. The second tier involves account managers, namely custodians.

EU credit institutions or investment firms or Central Securities Depositories (CSDs) can act as control agents. There is no need to obtain a license in Luxembourg, but the regulatory authority (CSSF) must be notified several months in advance.